The days of calling insurance companies and asking for their rates over the phone are long gone. Today, a growing majority of consumers request quotes from insurers online. Doing so is more convenient. You can submit a request at any time, day or night, rather than waiting for normal business hours. Moreover, comparing rates online is more efficient than doing so over the phone. You'll save time since you'll have all of the information you need in one place to make an informed decision about your coverages.

Having said that, requesting quotes on the internet requires taking a methodical approach. The only way to obtain accurate information is to provide insurers with the right details. Below, we'll offer several tips to help you find the best set of coverages for the lowest possible car insurance rates.

Compare Quotes For Identical Packages

The main purpose of comparing quotes is to find the lowest premiums. But that goal is only relevant if you're comparing the same set of coverages, limits, and deductibles. Otherwise, it will be impossible to determine which company is offering the best deal.

For example, suppose you request quotes from three insurers using different criteria. From one company, you ask for collision and comprehensive coverages. From another, you request lower deductibles. From yet another, you ask for higher coverage limits. Given this scenario, there is no possible way you'll be able to tell which insurer has the lowest rates.

When requesting quotes, make sure the set of coverages you're requesting them for is the same.

Provide Accurate Information About Your Vehicle

Your premiums are based partly on the vehicle you drive. The same set of coverages for two different cars is almost certain to produce different rates. 

A lot of insurance companies subscribe to the Canadian Loss Experience Automobile Rating (CLEAR) system. The CLEAR system evaluates each vehicle based on its claims history. The volume of past claims, as well as their costliness, are taken into account. These factors are used to identify the level of claims risk associated with each car, based on its model, make, and year.

If you submit inaccurate details about your vehicle, the quotes you receive from each insurer will be unreliable. Even a small error, such as the wrong model year, can have a dramatic effect on rates.

Be Truthful Regarding Your Driving Record

There is no benefit to hiding traffic violations and collisions from insurance companies when requesting quotes. The quotes you receive are based solely on the information you provide. They are not binding. Before an insurer will agree to extend coverage to you, it will check your driving record to ensure it has accurate information. Only then can it evaluate the risk of covering you.

When asked to provide the number of accidents you've been involved in, be honest. If asked about speeding tickets or other traffic violations, do likewise. The clearer picture you provide insurance companies about your risk profile, the more confidence you can have in the quotes they offer.

The More Quotes You Compare, The More You'll Save

The premise behind comparing quotes is that every insurance company is different, and thus rates vary between them. It's important to realize that there are thousands of insurers. For this reason, it does little good to only solicit quotes from a few of them. Doing so will not provide a useful perspective of the entire range of premiums that exists for a given set of coverages.

Instead, compare quotes from several insurance companies. The more, the better. That way, you'll have a much better glimpse of the true range of rates that are available for the set of coverages you need.

Compare Auto Insurance Quotes Often

A lot of people become accustomed to paying their premiums each year, and neglect to check whether lower rates can be found elsewhere. Some assume they are already receiving the best rates possible from their current insurance providers. Others believe they'll pay the same premiums regardless of which company covers them.

In reality, there is usually a substantial difference in premiums from one company to the next. Although insurers take the same factors into account when calculating their policyholders' rates, they weigh them differently. For example, one company might consider the type of vehicle you drive to be more important than another company. Also worth noting, each insurer offers a different set of discounts.

Compare quotes from insurance companies at least once a year; do so a month or two before your policy expires. Do a similar comparison whenever your life undergoes a major change, such as getting married, retiring, or buying a home. You may find that the rates you're currently paying are higher than those offered by other insurers.

This article was written by Kanetix.ca - Canada's leading online insurance quote comparison service. Since 1999, Kanetix has helped millions of Canadians save time and money on insurance.